Payments

Paytm’s decision to open its own app store after Google forced developers to use its billing system was a predictable move, as is the potential for fintechs to steal payment volume from the technology giants.

Millennial credit card provider Petal is expanding its target audience beyond thin-file consumers and those without credit histories. It will now also target those with blemished, non-prime credit histories.

While validating the card itself can protect merchants from accepting fraudulent cards at the point of sale, it does not protect the actual data on the card itself from being intercepted in the POS device, says Bluefin's Rustin Miles.

Bank bill-payment sites have become less relevant over the last decade as more people go to billers’ websites to pay directly or use billers' mobile apps — often at the last minute. But the COVID-19 pandemic could flip the script on the $4.6 trillion bill-payment sector.

Tipalti, whose platform supports cross-border B2B supplier payments, has raised $150 million in its latest funding round, bringing the total it’s raised from outside investors to $280 million.

Bank bill-payment sites have become less relevant over the last decade as more people go to billers’ websites to pay directly or use billers' mobile apps — often at the last minute. But the COVID-19 pandemic could flip the script on the $4.6 trillion bill-payment sector.

With a target of doubling its customer base to six million by 2021, Saudia Arabian digital wallet STCPay will operate through banking software company Temenos to expand its payments and mobile banking reach throughout the Middle East.

The trends were already pushing new payment experiences, which now seem less futuristic, says VeriTran's Omar Arab.

With travel spending still largely sidelined by the coronavirus pandemic, Amazon is looking to harness more of the spending that small and medium-sized businesses are focused on for recovery.

The threat has been exacerbated during the pandemic, as shelter in place orders forced consumers inside and businesses to close their physical doors, while simultaneously opening online ones, says Sift's Kevin Lee.

Parking payments have long been a pain point for many motorists, but it's a category that has also resisted a shift to mobile or digital payments in many regions.

Emerging market payments and foreign exchange provider Crown Agents Bank Ltd. is partnering with MTFX Group, a similar company based in Canada, to expand digital payments access across Africa.

Longtime finance entrepreneur Jackie Reses, who led Square Capital for the last five years, is leaving the company at the end of the month. Square has not yet named a successor.

Retailers that provide customers with their preferred way to pay — visible or invisible — will be the ones who prosper in today’s competitive marketplace, says PPRO's Matt Jackson.

Nexi SpA is already hunting for its next target after agreeing a milestone payments merger with Italian rival SIA SpA, as consolidation in the sector shows little sign of easing.

Coronavirus galvanized the use of NFC payments and QR codes, and PayPal wants to harness both trends for Venmo’s first credit card.

Facebook's size and aggressive moves into mobile wallets and stablecoins pose a formidable threat to other big technology companies and traditional payment networks, says Intrepid Ventures' Eric Grover.

For suppliers, getting paid by card is the fastest way to get their money in the bank. On the buyer’s side, virtual cards are the most secure payment method, and they can also generate rebates, says Nvoicepay's Kristin Cardinali.

The ongoing pandemic and economic crisis should accelerate the adoption of payments as a service, APIs and open banking, says AFEX Americas' Christian Spaltenstein.

For many U.S. cities and counties, the high number of walk-in payments and checks typically received for services, permits and fees has been aggravating but acceptable — until coronavirus struck.